Geithner Says There Will Be No 'Second Wave' to Crisis

WASHINGTON-Counter to some predictions, Treasury Secretary Timothy Geithner is expressing confidence that there will not be a "second wave" in the current financial crisis.

During an interview with National Public Radio, Geithner said, "We'll do what's necessary to prevent that. "We cannot afford to let the country live again with the risk that we're going to have another series of events like we had last year. That's not acceptable."

Geithner said the administration wants to see banks in particular taking on more risk, arguing policymakers will focus on financial stability "in the future."

"Right now the real risk we face is that banks are not lending enough and are not going to provide the capital businesses need to grow," he said. "The real risk is the pendulum having been too soft and easy on the lending side. Right now the risk is that banks overcorrect or that supervisors overcorrect and that's something we need to lean against."